Abstract: CPU scheduling is one of the most primary and essential part of any operating system. It prioritizes processes to efficiently execute the user requests and help in choosing the appropriate process for execution. Round Robin (RR) & Priority Scheduling(PS) are one of the most widely used and acceptable CPU scheduling algorithm. But, its performance degrades with respect to turnaround time, waiting time & context switching with each recurrence. A New scheduling algorithm OMDRRS is developed to improve the performance of RR and priority scheduling algorithms. The new algorithm performs better than the popular existing algorithm. Drastic improvement is seen in waiting time, turnaround time, response time and context switching. Comparative analysis of Turn around Time(TAT), Waiting Time(WT), Response Time (RT) is shown with the help of ANOVA and t-test.